ECOWAS Strengthens Business Empowerment and Regional Integration through the ECOWAS Small Business Coalition Trade Fair
25 Nov, 2024The ECOWAS Commission has reaffirmed its commitment to empowering businesses and advancing regional integration by actively participating in the second edition of the ECOWAS Small Business Coalition (ESBC) Trade Fair. Held in Abidjan, 21st – 23rd November, 2024, this landmark event was co-organized by the ECOWAS Commission and the West African SME Coalition, demonstrating a shared vision to bolster small and medium-sized enterprises (SMEs) across West Africa.
The ECOWAS delegation, led by Mr. Anthony Elumelu, Acting Director of the Private Sector, on behalf of Massandjé Touré-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, and H.E. Ambassador Fanta Cissé, ECOWAS Resident Representative in Côte d’Ivoire, was joined by representatives from all 15 West Africa Member States.
The ESBC Trade Fair provided a dynamic platform for SMEs to collaborate and showcase their products, exchange ideas, and forge regional partnerships. It highlighted the vital role of cross-border trade and collaboration in driving economic growth and regional integration.
Addressing participants, Commissioner Touré-Litse emphasized ECOWAS’ steadfast dedication to regional businesses, citing the adoption of a framework for regional economic zones as a game-changer for economic growth, job creation, and deeper integration.
“As we gather here today, we are reminded of the importance of regional integration in stimulating economic development. The African Continental Free Trade Area (AfCFTA) provides a unique opportunity for our region to enhance trade, investment, and cooperation. This fair is a crucial step in positioning our sub-region to thrive within the AfCFTA framework,” she stated.
The ECOWAS SME Charter, a flagship document guiding SME growth in the region, underscores the organization’s commitment to fostering entrepreneurship and sustainable business environments. Key priorities outlined in the Charter include business education, regulatory improvements, regional collaborations, and enhanced financial support for SMEs.
In collaboration with stakeholders such as FEBWE, FEWACCI, MAN, and FOPAO, ECOWAS has taken strategic steps to ensure businesses receive the tools and support needed for success.
These partnerships strengthen private-sector contributions to regional economic integration.
Furthering its initiatives, ECOWAS is working with the World Bank and its implementing agency, the International Finance Corporation (IFC), to develop a comprehensive framework for regional economic zones. This framework will create avenues for sustainable economic growth, job creation, and deeper regional integration.
The ECOWAS Commission remains steadfast in its mission to empower SMEs as key drivers of West Africa’s economic transformation. By fostering regional collaboration, enhancing regulatory frameworks, and creating thriving economic zones, ECOWAS is building a robust, interconnected, and prosperous West African business environment.
